Refer to the real estate data attached. Compute the probability that a home in Township 3 has a pool. Then compute the probability that a home is in Township 3 and has a pool (compare to all homes in the sample). Statistical tools may be used to compute these probabilities through creating a table of the data. (SPSS: Analyze – Descriptive Stat – Crosstab, Row = Pool and Column = Township). (Minitab: File – Open Worksheet – Select the Real Estate Excel data file – Stat – Tables – Descriptive Statistics, Row = Pool and Column = Township)
Explain how these probabilities would help a realtor locate a home with a pool. In addition, describe from a Biblical worldview how realtors could use these probabilities to best serve their clients.
Today, we live in a world where probabilities are quoted all the time from stormy weather to car safety and movie ratings. Select a probability that you rely on all the time and identify two probability concepts covered in this week’s reading assignment. Identify whether your reliance on this probability can lead you to reevaluate reliance.
200 to 300 words
minimum of two academic peer reviewed scholarly articles